Lessons learned in risk management on NCSX

Abstract The function of project risk management (PRM) is to understand the uncertainty that surrounds a project and to identify the potential threats than can affect it as well as to know how to handle these risks in an appropriate way. Then, the measurement of the performance of PRM becomes an important concern, an issue that has not yet been addressed in the research literature. It is necessary to know how successful the application of the PRM process is and how capable is the process within the organization. Regarding construction projects, it is essential to know whether the selected responses to mitigate or eliminate identified risks were suitable and well implemented after the execution of the project. This paper presents a critical analysis of the relevance of measuring the performance of PRM and the benefits of doing so. Additionally, it presents a preliminary and pioneering methodology to measure the performance of PRM through the evaluation of the adequacy of responses applied to mitigate risks as well as to evaluate the resulting impacts as indicators of the effectiveness of these actions at the end of the project. This knowledge will allow construction companies to incorporate good practices, generate lessons learned, and thereby to promote a continuous improvement of the whole PRM process.

Get full-text (via PubEx)

Self-Verification Program in bp: Success Story of Major Accident Risk Management via Bowtie Barrier Model

SPE Drilling & Completion ◽

10.2118/204132-pa ◽

2021 ◽

pp. 1-13

Author(s):

Roman Bulgachev ◽

Michael Cromarty ◽

Lee Milburn ◽

Kevan Davies

Keyword(s):

Risk Management ◽

Risk Function ◽

Lessons Learned ◽

Management Tool ◽

Accident Risk ◽

Component Level ◽

Holistic View ◽

Operational Risks ◽

Program Evolution ◽

Major Accident

Summary bp’s (“the company’s”) wells organization manages its operational risks through what is known as the “three lines of defense” model. This is a three-tiered approach; the first line of defense is self-verification, which wells assets apply to prevent or mitigate operational risks. The second line of defense is conducted by the safety and operational risk function using deep technical expertise. The third line of defense is provided by group audit. In this paper, we discuss the wells self-verification program evolution from its first implementation and share case studies, results, impact, lessons learned, and further steps planned as part of the continuous improvement cycle. The company’s wells organization identified nine major accident risks that have the potential to result in significant health, safety, and environment (HSE) impacts. Examples include loss of well control (LoWC), offshore vessel collision, and dropped objects. The central risk team developed bowties for these risks, with prevention barriers on cause legs and mitigation barriers on consequence legs. Detailed risk bowties are fundamental to wells self-verification, adding technical depth to allow more focused verification to be performed when compared with the original bowties, because verification is now conducted using checklists targeting barriers at their component level, defined as critical tasks and equipment. Barriers are underpinned by barrier enablers (underlying supporting systems and processes) such as control of work, safe operating limits, inspection and maintenance, etc. Checklists are standardized and are available through a single, global digital application. This permits the verifiers, typically wellsite leaders, to conduct meaningful verification conversations, record the resulting actions, track them to closure within the application, and gain a better understanding of any cumulative impacts, ineffective barriers, and areas to focus on. Self-verification results are reviewed at rig, region, wells, and upstream levels. Rigs and regions analyze barrier effectiveness and gaps and implement corrective actions with contractors at the rig or region level. Global insights are collated monthly and presented centrally to wells leadership. Common themes and valuable learnings are then addressed at the functional level, shared across the organization, or escalated by the leadership. The self-verification program at the barrier component level proved to be an effective risk management tool for the company’s wells organization. It helps to continuously identify risks, address gaps, and learn from them. Recorded assessments not only provide the wells organization with barrier performance data but also highlight opportunities to improve. Leadership uses the results from barrier verification to gain a holistic view of how major accident risks are managed. Program evolution has also eliminated duplicate reviews, improved clarity of barrier components, and improved sustainability through applying a systematic approach, standardization, digitization, and procedural discipline.

Get full-text (via PubEx)

Beyond COVID-19 supply chain heroism, no dust settling yet – lessons learned at Rolls Royce about advancing risk management thinking

International Journal of Operations & Production Management ◽

10.1108/ijopm-03-2021-0141 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Remko van Hoek ◽

David Loseby

Keyword(s):

Risk Management ◽

Supply Chain ◽

Lessons Learned ◽

First Year ◽

Multiple Time ◽

Content Type ◽

Manufacturing Operations ◽

Time Horizons ◽

Management Literature ◽

The Impact

PurposeWhile there is a rich body of risk management literature and while there have been valuable theoretical advancements on the specific impact of the COVID-19 pandemic on risks, this paper aims to posit that at least four more advancements are needed.Design/methodology/approachThe co-author from Rolls Royce (RR) illustrates the risks experienced and risk management approaches taken in its manufacturing and supply chain operations both in the earlier stages of the pandemic as well as after the first year of the pandemic.FindingsThe COVID-19 pandemic offers a unique risk scenario that is beyond the scope of most existing risk management literature. The impact of the pandemic is very multi-faceted, not location specific but very global and experienced throughout the entire supply chain, across industries and over a much extended timeline with multiple time horizons. In manufacturing operations, there have been major instances of supply chain heroism in the first year of the pandemic and there is a lot more work ahead.Originality/valueThe authors' co-created paper enriches the perspective on COVID-19 research in manufacturing and supply chain operations by pointing at empirical opportunities, the need for more inter disciplinary research and the need to consider multiple time horizons.

Get full-text (via PubEx)

Developing an E-Learning Course for a Global Legal Firm

Cases on Cultural Implications and Considerations in Online Learning ◽

10.4018/978-1-4666-1885-5.ch007 ◽

2012 ◽

pp. 133-154

Author(s):

Gemma Baltazar

Keyword(s):

Risk Management ◽

Training Program ◽

Management Training ◽

Lessons Learned ◽

Online Course ◽

Firm Risk ◽

E Learning ◽

Overall Risk

This case study describes the considerations, challenges, and lessons learned in developing this online course, which is the foundation of an overall risk management training program for the Firm. Risk management is a very broad, deep, and complex topic which impacts the practice of law in many different ways. Recognizing that it is in meaningful discussions where learning most likely takes place, the project team’s challenge was to design an e-learning course that allows sufficient interactivity to engage the learner and stimulate thinking around issues they encounter in whatever legal area, and at whatever level they practice.

Get full-text (via PubEx)

Lessons Learned About Gamification in Software Engineering Education

10.4018/978-1-6684-3710-0.ch071 ◽

2022 ◽

pp. 1473-1496

Author(s):

Beatriz Marín

Keyword(s):

Risk Management ◽

Software Engineering ◽

Engineering Education ◽

Learning Process ◽

Learning Experience ◽

Lessons Learned ◽

Software Engineering Education ◽

Functional Size Measurement ◽

Class Diagrams ◽

Improved Learning

Software engineering courses traditionally mix theoretical aspects with practical ones that are later used in the development of projects. Teaching software engineering courses is not easy because in many cases the students lack motivation to exercise the topics prior to project development. This chapter presents the application of gamification on some topics of a software engineering course to engage students and increase their motivation. The authors argue that with the proper motivation, the students can better exercise the topics and obtain stronger knowledge. The authors have created five games to help in the learning process of the software engineering course. The games are related to risk management, BPMN modeling, Scrum process, design and inspection of class diagrams, and COSMIC functional size measurement. Gamification has been applied during four years in the software engineering course, resulting in an improved learning experience for the students. Finally, lessons learned are presented and discussed.

Get full-text (via PubEx)